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How does the EV tax credit work for cars purchased after Jan 1 2023? Do I just need to have a tax liability, or do I need to have a balance due of 7500 to get the credit?
I owe > $7500 in federal taxes. I also prepay my taxes every year. Most years I receive a refund from the government because I've overpaid in taxes. In this situation, would I receive the $7500 EV tax credit? Or do I need to withhold extra money, to ensure that I still have a balance due when it comes time to do my 2023 taxes?
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‎February 1, 2023
2:41 PM